PYUSD is backed by US Treasury securities, dollar deposits, and other cash equivalents. PayPal USD (PYUSD) by the largest debit electronic payment system in the world is the first stablecoin (a cryptocurrency whose rate is stabilized by connecting its quotes to traditional currencies or...

Aramco, the state-owned oil company of Saudi Arabia, announced a nearly 38% decline in second-quarter net profit on Monday due to lower oil prices and thinner margins in the refining and chemicals industries. However, it increased its dividend by adding a new performance-linked payout.  ...

According to Decrypt, Revolut has decided to cease bitcoin operations in the US in the fall. The fintech business made this choice as a result of legislative changes and unpredictability in the American cryptocurrency sector. Revolut, a fintech business founded by Russian-born Nikolay Storonsky,...

A long-standing loophole that permits inexpensive goods like $10 dresses to arrive in U.S. mails tariff-free has spurred the rapid emergence of shopping sites offering Chinese-made goods, such Shein and Temu.   This is made possible by the "de minimis" rule, which exempts shipments addressed...

Despite exceeding Wall Street sales and earnings projections in the fiscal third quarter, Apple anticipated that a sales downturn would last into the current quarter, driving shares lower.   After Apple estimated that its sales may have declined for the fourth consecutive quarter, the...

When sales of the COVID-19 vaccine go from government contracts to the private market this year, Moderna Inc. projects up to $4 billion in revenue, and it anticipates further demand growth in 2024 to match the market for flu injections.   The manufacturer of the vaccine projects $4 billion...

The plant will be built in the Linkou district of Xinbei city, according to Taipei Shibao newspaper. ASML, a Dutch manufacturer of lithography equipment for chip production, has been given permission to construct a facility in Taiwan. According to the Taiwanese newspaper Taipei Shibao, the total...

In an effort to revive a famous and high-margin sports utility vehicle, Toyota presented the first hybrid Land Cruiser on Wednesday. The car will be sold in North America and other important regions.   The 1951-founded brand's new model as well as a smaller, recently announced counterpart...

The German BayLDA (Bavarian Data Protection Supervisory Authority) is looking into the Worldcoin cryptocurrency initiative, which was launched last week. The news is reported by Reuters referring to Michael Will, President of BayLDA. The investigation waws started due to the regulator's worries...